Why Product Market Fit matters 

• (00:00–00:45): ~80% of startups fail for lack of PMF; the speaker (Vivino founder) sets up a 5-step path and how to recognize PMF.

Step 1 — Problem → Solution → Audience

• Define clearly (01:04–01:44): State problem/solution in plain words; pick a specific audience (ideally you’re in it).

• Frequency vs. Value test (02:03–03:17): You need at least one to be high; examples: Facebook (high freq/low value), Uber (med freq/high value), Zillow (low freq/high value); change audience to shift frequency/value.

Step 2 — Find a Way to Start Building

• Resource-realistic plan (03:36–04:08): Prove it’s solvable with what you have; start small (the “smaller rocket”), validate tech and customer access.

Step 3 — Build the MVP

• Smallest viable core (04:25–05:35): Ship fast, avoid scope creep, test with real desperate users (not friends/family), keep the tester group small and relevant, ignore cosmetics.

Step 4 — Metrics That Matter

• Avoid vanity (05:53–06:35): Downloads/press ≠ PMF.

• Track just two (06:35–07:46):

  • Retention (e.g., MAU/WAU; consider excluding brand-new users)

  • Usage (e.g., minutes watched, orders/year, scans/month)

Step 5 — “Insanely Awesome” Release Cycle

• Weekly loop (08:03–10:24): Brainstorm → Shirt-size (S/M/L) → Prioritize → Spec → Build → Release → Post-mortem; optimize for learning speed and iteration.

Recognizing Product-Market Fit

• Strong hints (10:40–11:22): Users tolerate bugs and keep using because value is high (e.g., early Instagram; early Vivino).

• Clear confirmation (11:22–11:54): Both retention and usage rise together (“more users use it more”).

• Gut check (11:54–12:12): If you’re unsure you have PMF, you probably don’t; when it arrives, you know.

Timeline & Reality Check

• Persistence required (00:45): Vivino took ~18 months of flat metrics before hitting PMF.

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